The so-called Trump rally hasn't been an actual rally since mid-December

Here are some things to keep in mind when referring to the "Trump Rally"…

The S&P 500 is up nearly 6% since Trump was elected, but that doesn't necessarily mean that the Trump Rally is still on.

When discussing the so-called Trump Rally, an argument can be made for referring to it in past tense, rather than in present tense – since it appears that the gain has essentially been stalled for more than 5 weeks now (having ended around December 13). In fact, the S&P 500 has now moved sideways for a longer period than the actual post-election rally (26 sessions vs. 25 sessions).

Source: Thomson Reuters Eikon

S&P 500

Change

# of Sessions

Point Range

Election Day (11/8)-Today

+5.7%

51

159

11/8-12/13

+6.2%

25

154

12/14-Today

-0.4%

26

48

Coincidence or not, Dec. 13 is the same day that Trump met with Kanye West at Trump Tower in New York.